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Saturn Oil & Gas Inc. Announces Graduation to the Toronto Stock Exchange and Restored Production from Alberta Wildfires
Calgary, Alberta--(Newsfile Corp. - June 13, 2023) - Saturn Oil & Gas Inc. (TSXV: SOIL) (FSE:...
About this update from Saturn Oil & Gas Inc.
[{"type":"text","content":"Saturn Oil & Gas Inc. Announces Graduation to the Toronto Stock Exchange and Restored Production from Alberta WildfiresCalgary, Alberta--(Newsfile Corp. - June 13, 2023) - Saturn Oil & Gas Inc. (TSXV: SOIL) (FSE: SMKA) (OTCQX: OILSF) (\"Saturn\" or the \"Company\") is pleased to announce that it has received approval from the Toronto Stock Exchange (the \"TSX\") to graduate the listing of its common shares (the \"Common Shares\") to the main board of the TSX. Saturn expects the Common Shares to commence trading under the symbol \"SOIL\" on the TSX on June 15, 2023 at which time trading on the TSX Venture Exchange will cease. No action is required to be taken by Saturn shareholders. The Company's listed warrants (expiring July 7, 2023 and March 10, 2025, respectively) will also transition to the TSX.\"The graduation to the TSX, Canada's most senior stock exchange, is an exciting achievement for our Company,\" said John Jeffrey, CEO of Saturn. \"The hard work of our staff and support of shareholders over the past 24 months has made it possible to rapidly grow into a company that meets the stringent listing requirements of the TSX. We anticipate that trading on the TSX will provide us with additional visibility in the marketplace, provide our shareholders will additional liquidity and allow access to a broader and more diverse range of international and institutional investors.\"Saturn is further pleased to announce that it has restored over 90% of the estimated 10,000 boe/d (60% oil and NGLs) of production that was curtailed since May 4, 2023 as a result of the wildfires in Alberta. We are relieved to report that all of Saturn's employees and contractors that were displaced by the wildfires have returned to their undamaged homes. Saturn is assessing the potential damage of our wells and infrastructure, and we are currently not aware of any significant impairments.The Company also confirms that 268,333,333 of the Company's listed common share purchase warrants exercisable on a 20:1 basis at $0.16 per share (ticker SOIL.WT) have expired and have ceased trading on the TSX Venture Exchange effective June 5, 2023. As the warrants were listed, amendments to the terms thereof (including any extension or price adjustment) was not permissible within the rules of the TSX Venture Exchange's Corporate Finance Manual. About Saturn Oil &...